Deerfield, Illinois.
Typical home $655,724 (+7.6% in a year), asking rent $2,789 (+6.5%). Chicago-Naperville-Elgin, IL-IN-WI metro.
to buy the typical home at today's mortgage rate — +$1,923 (+127%) since Jan 2020.
- 1 year
- Up $46,245 +8%
- $609,479$655,724 since Sep 2025
- 5 years
- Up $189,873 +41%
- $465,852$655,724 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Deerfield$3,442
- Illinois$1,553
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 10 years.
Typical home values in Deerfield, IL rose 7.6% over the past year — faster than the nation's +1.2%.
Asking rents in Deerfield, IL rose 6.5% over the past year — faster than the nation's +2.7%.
Owning the typical home in Deerfield runs $2,765/mo more than renting one. The gap peaked at $2,768 in Jul 2026.
That is $5,554 a month against $2,789 rent: a $3,442 mortgage payment, plus $1,410 property tax and $702 insurance & upkeep.
Owning vs renting — Deerfield
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$5,554
- Renting$2,789
- Mortgage only$3,442
Property tax · $1,410/mo 2.58% of value a year — the ACS 2020-2024 median bill over the median home value for Lake County, IL
Insurance & upkeep · $702/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Living in Deerfield, Lake County, Illinois
Deerfield is a village of 19,196 people in Lake County. Half its households earn more than $181,660 a year and half less, against $110,416 across Lake County; 3% of its people live below the poverty line. 82% of its homes are lived in by their owners and 18% are rented. Unemployment in Lake County was 3.8% in August 2026, and the county had 1.1% fewer jobs in 2025 than the year before. The most residents work in schools and health care, then professional services.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Deerfield is a village in Lake County, Illinois, with a median age on the older side and incomes well above the county's. Most homes are lived in by their owners, and very few residents live below the poverty line. Nearly all adults have a four-year degree, and typical home values and rents are high.
Work. Residents work mostly in schools, hospitals and social care, followed by professional and business services, banks, insurance and property, and manufacturing. Among the largest workplaces in Deerfield are Deerfield Schools, the Accreditation Association for Ambulatory Health Care and the Deerfield Park District. Commutes are fairly long, and a good number of residents work from home.
Things to do. The Chicago Botanic Garden is a short drive away, a botanical garden to wander in warmer months. The Art Institute of Chicago and the Field Museum of Natural History are museums a longer drive away, and Millennium Park is a garden in the city, also a longer drive off. Winters are cold and snowy, summers are warm, and rain and melted snow fall through the year.
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- 7,515households
- 82%of adults have a degree
- 3%below the poverty line
- 28 mintypical commute
- 28%work from home
What residents work in
Employed residents by industry, from the Census survey. Lake County had 325,826 jobs in 2025, 1.1% fewer than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 32° and lows near 16°; warmest in July, with highs near 84° and lows near 63°. About 34 inches of snow and 40 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Chicago Botanic Garden weather station, 4 miles away (NOAA).
Largest workplaces in Deerfield
- Deerfield SD 109School district485FTE
- Accreditation Association for Ambulatory Health CareProfessional associations359
- EsseandantJanitorial equipment and supplies merchant wholesalers353
- Deerfield Park DistrictOrganizers of sports events with facilities349
- Whitehall Skilled Nursing FacilityNursing homes224
- Deerfield207
- The Hershey CompanyCandy merchant wholesalers206
- CJE SeniorLifeAssisted-living facilities without on-site nursing care facilities181
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 16 workplaces with 20 or more staff, 2,483 people in all. School districts come from the Common Core of Data (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Inland floodingRelatively high
- Cold wavesRelatively high
- TornadoesRelatively high
- Strong windRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Deerfield’s census tracts, against the rest of the country; all of them together, relatively moderate. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Lake County and the Chicago-Naperville-Elgin, IL-IN-WI metro.
Deerfield home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Deerfield$655,724
- Illinois$295,943
- United States$366,157
Sellers are cutting prices on about 1 in 4 Deerfield listings, and the typical home goes pending in 12 days — the market is roughly in balance.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Deerfield26.57%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
Not enough data to draw this yet.
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Deerfield57
New listings per month
Sellers arriving at the market.
- Deerfield25
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Deerfield$585,016
- United States$371,553
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- Deerfield101.90%
Zip codes with a Deerfield address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Deerfield — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.